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CEO of Iridium Communications Inc. Matthew J. Desch Bought 15,000 Shares

August 07, 2013 | About:

Iridium Communications Inc. has a market cap of $542.6 million; its shares were traded at around $7.08 with a P/E ratio of 9.90 and P/S ratio of 1.60.

CEO of Iridium Communications Inc. (NASDAQ:IRDM) Matthew J. Desch bought 15,000 shares on Aug/ 6, 2013 at an average price of $7.12. The total transaction amount was $106,800.

Desch joined Iridium Communications in 2006. Before working at Iridium, he worked as the CEO of New Jersey-based Telcordia Technologies Inc. and also served at Telcordia and Nortel Networks.

In addition to Matthew Desch’s purchase, CFO Thomas Fitzpatrick and other directors and officers together sold 774 shares of stock, and Director Thomas Canfield bought 27,500 shares during June, March, May and August.

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GuruFocus Guru Mario Gabelli initiated his position in IRDM and owns 43,000 shares in the quarter that ended on June 30, 2013. Whitney Tilson, who owns 430,192 shares as of March 31, reduced his position in the company.

Iridium Communications Inc. reported their 2013 second quarter results with total revenues of $94.7 million and net income of $15.4 million.


Rating: 1.0/5 (1 vote)

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